Borrow Money to Buy a Servpro Franchise

Need a loan to invest in a Servpro franchise? Sanford Institution For Saving has a history of making these loans and they are guaranteed by the SBA.

Servpro franchise loans are available to Sanford, Maine entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Sanford Institution For Saving, based in Springvale, Maine, issued an SBA franchise loan for a Servpro franchise in 2003. We've got all the details on this Maine small business loan.

SBA Loan Borrower

SERVPRO OF SOUTHERN YORK COUNT
SANFORD, ME 04073

SBA Loan Lender

SANFORD INSTITUTION FOR SAVING
484 MAIN ST
SPRINGVALE, ME 04083

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7349 - Building Cleaning and Maintenance Services, N.E.C

NAICS Code

561720 - Janitorial Services

Loan Approval Date

9/17/2003

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $63,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Servpro franchise. At the time of the loan, the company had 8 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Sanford Institution For Saving and they will explain how you can get an SBA loan for your company.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

ServPro

Borrowing Money from Friends and Family

SBA 7A Lenders in Springvale, Maine

Maine SBA 7A Banks